To put it most precisely, he was fired from the company that shortly thereafter became PayPal.
Rating:In 2000 Elon Musk was fired as CEO of X.com after it merged with software company Confinity, which featured PayPal as a service. In 2001, the company was rebranded to PayPal.worried
What followed was one of the nastiest coups in Silicon Valley's long, illustrious history of nasty coups. A small group of X.com employees gathered one night at Fanny & Alexander, a now defunct bar in Palo Alto, and brainstormed about how to push out Musk. They decided to sell the board on the idea of Thiel returning as CEO. Instead of confronting Musk directly with this plan, the conspirators decided to take action behind Musk's back.
When Musk finally heard what had happened, he hopped on the next plane back to Palo Alto."It was shocking, but I will give Elon this–I thought he handled it pretty well." Justine said.profile of Musk:"In the fall of 2000, Musk went on a two-week trip to meet prospective investors. When he returned, he learned that Levchin and Thiel had orchestrated a coup. The board fired Musk, replaced him with Thiel, and renamed the company PayPal.
Elon Musk Talks about Getting Fired as Paypal CEO . www.youtube.com, https://www.youtube.com/watch?v=wKacw4zHj-Q. Accessed 15 Dec. 2022.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PayPal has become an episode of Black Mirror: Elon MuskPayPal's co-founder Peter Thiel has slammed the payments company for exercising 'totalitarian' control of its user's funds, while Elon Musk has compared it to an episode of Black Mirror.
Read more »
Elon Musk is no longer world’s richest person, reports sayElon Musk is reportedly starting off this week as the world's second richest person.
Read more »
EXPLAINER: How Elon Musk is changing what you see on TwitterWhat you’re seeing in your feed on Twitter is changing. But how?
Read more »
EXPLAINER: How Elon Musk is changing what you see on TwitterWhat you're seeing in your feed on Twitter is changing. But how? The social media platform's new owner, Elon Musk, has been trying to prove through giving selected journalists access to some of the company's internal communications dubbed “The Twitter Files” that officials from the previous leadership team allegedly suppressed right-wing voices.
Read more »
Elon Musk loses title as world's richest personTesla CEO Elon Musk lost his coveted title as the world's richest man to LVMH CEO Bernard Arnault.
Read more »